Financial Management for Community Boards

Overseeing the finances is probably one of the most important tasks of a board member, and organisations with financially literate boards are best placed to promote and fulfil their missions, regardless of the external environment.

This workshop covers the questions boards should be asking about the finances and assists board members in reading and understanding the organisation’s financial reports. We will cover:

Effective financial governance

• Understanding the board’s financial responsibilities and fiduciary duties
• Ensuring compliance with legal and regulatory requirements
• Implementing financial policies and risk management

Establishing a financial plan and strategy

• Aligning financial planning with organisational goals
• Developing and managing budgets effectively
• Evaluating financial reports and key performance indicators

 Developing a sustainable funding strategy

• Diversifying revenue streams to reduce financial risk
• Strengthening relationships with funders and stakeholders 

Presented by: Nina Laitala, Training Lead, Governance and Community Leadership, Institute of Community Directors Australia (ICDA) 

In 2016, Nina joined the Victorian Student Representative Council as a training and project manager, and she was later appointed CEO. As CEO, she led the organisation through a time of significant change, from being an auspice agency to becoming a charitable company limited by guarantee. It was during this time that she honed her skills as an executive manager, educator and advocate with a strong focus on strategic planning, mentoring and governance.

Nina excels in strategic and change management, particularly in bringing diverse stakeholders along for the journey. Her agile management style and unwavering energy and commitment enable her to build strong teams that thrive under challenging situations.

Nina is a passionate advocate for ensuring all people, particularly those from marginalised communities, have accessible platforms, opportunities and spaces where they can be heard and supported to create positive change in the world. Nina works with the training team to develop new training materials and deliver the full range of ICDA programs, including the Diploma of Governance.